Workday competitor SilkRoad selects banks for IPO -sources

Feb 25 Human resources software company SilkRoad
has selected JPMorgan Chase & Co and Piper Jaffray Cos
to lead an initial public offering later this year,
according to two sources with knowledge of the matter.

The Chicago-based company is hoping to piggy-back on the IPO
of peer Workday Inc, which raised $637 million in
October. Shares of Workday, which priced its offering at $28 per
share, have nearly doubled since then to close Friday at $55.25.

JPMorgan declined to comment. SilkRoad and Piper Jaffray
could not be reached for comment.

SilkRoad, which also competes with Oracle Corp and
SAP AG, hopes to be the latest in a slew of IPOs from
cloud-based companies, which let customers access their data and
computing power from remote servers.